Key Highlights

  • Percheron Therapeutics secured firm commitments for an AUD 2.3mn institutional placement.
  • The Placement includes one free-attaching option for every two new shares issued.
  • Funds are intended to fully fund the HMBD-002 clinical trial in acute myeloid leukaemia and support working capital.
  • The transaction is divided into three tranches, with relevant Shareholder approvals expected at the 7 October 2026 annual general meeting.

Percheron Therapeutics Limited (ASX:PER) has secured AUD 2.3mn in new institutional funding as its HMBD-002 program moves towards another clinical development stage. The capital raising combines new shares and free-attaching options, with proceeds directed to the planned trial and working capital.

Three Tranches Shape the Capital Raising

The placement will issue new ordinary shares together with one free-attaching option for every two new shares subscribed for and issued. Tranche 1 covers 300mn new shares and 150mn Options subject to shareholder approval.

Tranche 2 proposes up to 138mn shares and 69mn options, while Tranche 3 proposes up to 22mn shares and 11mn options to Dr Michael Baker and related parties, subject to approval.

New Shares Priced at AUD 0.005

The placement price is AUD 0.005 per share, representing an 8.9% premium to the 15-day Volume weighted average price before the Trading halt on 28 August 2026.

The options carry an exercise price of AUD 0.01 and expire on 15 April 2028. Percheron intends to seek ASX Quotation of the new options subject to applicable requirements.

HMBD-002 Trial Receives the Capital Allocation

Proceeds will be directed towards the planned investigator-sponsored clinical trial of HMBD-002 in acute myeloid leukaemia and myelodysplastic syndrome. Vanderbilt Health in Nashville, Tennessee, is conducting the study.

The company entered into a clinical trial agreement with Vanderbilt Health, with the placement intended to fully fund the recently announced trial.

Issue Timetable Moves Through October

The first tranche of new shares is expected to be issued on or around 8 September 2026. Subject to shareholder approval, the remaining new shares and options are expected to be issued around 15 October 2026.

Percheron also intends to investigate processes for seeking quotation of 294.9mn unquoted options issued under its March 2026 entitlement offer.

Clinical Program Remains the Central Focus

HMBD-002 is a monoclonal antibody targeting the immune checkpoint regulator VISTA. The program has completed a Phase I clinical trial in patients with advanced cancer, while the company aims to commence further Clinical Trials in calendar year 2026.

The latest capital raising is directed toward the next planned clinical study and the company's general funding requirements.